First Financial Holdings Inc. in Charleston, S.C., has agreed to buy five South Carolina branches from Liberty Savings Bank.
The $3.3 billion-asset First Financial will buy $109.5 million in deposits and $27 million in performing loans as part of the deal. The branches are in the Hilton Head market, where First Financial already has three branches. The company said in a press release Wednesday that it plans to consolidate three of the branches.
First Financial expects to complete the branch acquisition by the beginning of the fourth quarter.
Earlier this month, the $979 million-asset Liberty Savings said it would sell all 16 branches in its home market of Dayton, Ohio, to First Financial Bancorp of Cincinnati. Following those sales, Liberty Savings would have branches in Colorado and Florida. It has said it anticipates keeping its headquarters in Wilmington, Ohio.